StockNews.com Lowers Lakeland Industries (NASDAQ:LAKE) to Sell

Lakeland Industries (NASDAQ:LAKE) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, Roth Mkm increased their price target on Lakeland Industries from $25.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd.

Lakeland Industries Trading Up 0.4 %

NASDAQ:LAKE traded up $0.09 during midday trading on Friday, hitting $20.71. 20,098 shares of the company traded hands, compared to its average volume of 37,373. The firm’s fifty day moving average is $21.45 and its 200-day moving average is $20.60. Lakeland Industries has a 12-month low of $13.86 and a 12-month high of $26.10. The firm has a market capitalization of $152.80 million, a P/E ratio of 27.61 and a beta of 0.55. The company has a current ratio of 4.24, a quick ratio of 2.00 and a debt-to-equity ratio of 0.24.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.61). Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. The company had revenue of $38.51 million for the quarter, compared to analysts’ expectations of $41.10 million. During the same quarter in the previous year, the company posted $0.32 EPS. On average, sell-side analysts predict that Lakeland Industries will post 0.96 EPS for the current year.

Institutional Trading of Lakeland Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. increased its stake in Lakeland Industries by 37.2% in the first quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock worth $196,000 after purchasing an additional 2,900 shares during the period. Empowered Funds LLC grew its position in shares of Lakeland Industries by 6.9% during the 1st quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock worth $199,000 after buying an additional 700 shares in the last quarter. Inspire Advisors LLC bought a new position in shares of Lakeland Industries during the 2nd quarter worth $222,000. Quadrature Capital Ltd bought a new position in shares of Lakeland Industries during the 4th quarter worth $236,000. Finally, High Falls Advisors Inc grew its position in shares of Lakeland Industries by 35.8% during the 2nd quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock worth $447,000 after buying an additional 5,137 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

About Lakeland Industries

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.